Dublin, Aug. 11, 2022 (GLOBE NEWSWIRE) -- The "VSaaS Market by Type (Hosted, Managed, and Hybrid), Vertical (Commercial, Infrastructure, Residential, Public Facilities, Military & Defense, and Industrial) and Geography (North America, APAC, Europe, Rest of the World) (2022-2027)" report has been added to ResearchAndMarkets.com's offering.
The VSaaS market is projected to grow from USD 3.3 billion in 2022 and is projected to reach USD 7.6 billion by 2027; it is expected to grow at a CAGR of 18.0% from 2022 to 2027. The growth of this market is driven by factors such as the low cost of investment, the rise in demand for real-time surveillance data, and the flexible scalability offered by VSaaS.
Market for hybrid VSaaS segment to grow at a high CAGR during the forecast period
The hybrid VSaaS segment is expected to witness high growth during the forecast period. The market growth is attributed to enhanced security features provided by hybrid VSaaS technology. In hybrid VSaaS, the recorded data is stored at the customer and service provider's end; the main reason behind using this type is security concerns regarding data. As hybrid services ensure more data security, remote access, flexibility in adding devices, flexible payment structure, and scalability of data storage, they are adopted for commercial applications such as enterprises, retail stores, and financial institutions. The demand for storing data on the premises and on the cloud drives the growth of the hybrid VSaaS market.
Infrastructure vertical segment is expected to grow at the highest CAGR in the VSaaS market during forecast period
The infrastructure vertical of the VSaaS market is expected to grow at the highest CAGR during the forecast period. The increasing demand for VSaaS solutions across transportation & city surveillance, and public places segments is expected to propel the growth of the market. The increasing investments by governments of various countries to increase safety levels in public places help the market to grow. In addition, the development of smart city infrastructure will boost market opportunities for VSaaS in the years to come.
North America to hold a significant share of the VSaaS market during the forecast period
North America is expected to hold a significantly large share of VSaaS market during the forecast period. Factors such as increasing government initiatives to implement advanced surveillance systems in public places, government buildings, and high-security areas are driving the VSaaS market in North America. The increasing number of public safety initiatives and security practices are creating opportunities in both, government, and commercial verticals.
Premium Insights
- Government Initiatives to Migrate to Cloud Video Surveillance Solutions Drive Market Growth
- Hosted and Commercial Segments Held Largest Share of North American VSaaS Market in 2021
- Retail Stores & Malls to Lead Commercial Segment of VSaaS Market During Forecast Period
- VSaaS Market in China to Grow at Highest CAGR from 2022 to 2027
Market Dynamics
Drivers
- Low Cost of Investment
- Increasing Demand for Real-Time Surveillance Data
- Flexible Scalability Offered by VSaaS
Restraints
- Privacy and Security Concerns Regarding Data Usage
Opportunities
- Integration of VSaaS with Access Control and Alarm Systems
- Increasing Use of Smart Devices
- Rise in Big Data, Iot, and Smart Cities
- Rising Demand Across Commercial Vertical Owing to COVID-19
Challenges
- Lack of Awareness About Benefits of VSaaS
Key Topics Covered:
1 . Introduction
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview
6. VSaaS Market, by Type
7. VSaaS Market, by Vertical
8. Regional Analysis
9. Competitive Landscape
10. Company Profiles
11. Appendix
Companies Mentioned
- 3Deye Inc.
- Adt
- Alarm.Com
- Arcules, Inc.
- Arlo Technologies, Inc.
- Avigilon Corporation, a Motorola Solutions Company
- Axis Communications Ab
- Bosch Sicherheitssysteme GmbH
- Camcloud
- Camio
- Comcast Corporation
- Duranc Inc
- Eagle Eye Networks Inc.
- Genetec Inc.
- Hangzhou Hikvision Digital Technology Co. Ltd.
- Honeywell International Inc.
- Ironyun
- Ivideon
- Johnson Controls
- Mobotix Ag
- Morphean Sa
- Pacific Controls
- Securitas Ab
- Solink Corp.
- Verkada Inc.
- Vivint Smart Home, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/sfc09x
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